Daniel Ek transitions to Executive Chairman as longtime lieutenants take the co-CEO reins in a planned succession.
A seismic shift is underway at the helm of Spotify, the audio giant that reshaped how the world listens to music.
After nearly two decades as CEO, founder Daniel Ek is transitioning to the role of Executive Chairman, effective January 1, 2026.
This move, long in the planning, formalises a leadership structure that has been operating behind the scenes since 2023.
Stepping into the CEO role are two seasoned Spotify veterans, Alex Norström and Gustav Söderström, who will lead the company as co-CEOs.
Ek has been gradually handing over the day-to-day management to them, stating this change “simply matches titles to how we already operate.”
In his new role, Ek will shift his focus from player to coach, concentrating on Spotify’s “long arc,” its overarching strategy, capital allocation, and navigating the regulatory landscape that will define its next decade.
This leadership evolution comes at a pivotal time for the $140 billion company.
While Spotify boasts over 700 million users and its shares have surged over the past year, Ek’s tenure has not been without controversy.
He exits the CEO role amid ongoing friction with artists over streaming payouts and recent backlash over his personal investments in defense technology through his firm, Prima Materia.
Some artists have pulled their music from the platform in protest of these investments.
Despite these challenges, Ek leaves the CEO role as Spotify continues to dominate the streaming market it created, now looking toward expansion in Asia and Africa and the transformative potential of AI.
